Banco de Bogota to issue $1.2B in bonds

Banco de Bogota, the second largest bank by assets, said on Tuesday it would issue 2.2 trillion pesos ($1.22 billion) in bonds mandatorily convertible into shares.

The Colombia-listed company did not give any more details.

Banco de Bogota is part of Grupo Aval, which also owns Banco Popular, Banco de Occidente and Banco AV Villas. (Javier Mozzo / Reuters)